PANews reported on November 24th that, according to Tokenomist, Hyperliquid's first token unlock is scheduled for 15:30 Beijing time on November 29th, unlocking an estimated $308 million worth of $HYPE tokens, representing 2.66% of the circulating supply. This is the first unlock since the Time Between Tokens (TGE) in November 2024. According to the official Medium post, core contributor tokens are locked for one year after TGE, with most vesting to be completed between 2027 and 2028.

Meanwhile, @mlmonchain discovered that the team unstaking 2.6 million $HYPE tokens (worth approximately $85.8 million) about 29 hours ago, but has not yet released an official statement regarding the unlocking process. It should be noted that unstaking is not the same as selling, but market sentiment has already shown signs of panic and bearishness.